Housing woes increase: KiwiBuild problems and falling prices in Auckland
The Front Page · NZ Herald
February 14, 201917m 49s
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Show Notes
Reserve Bank Governor Adrian Orr is warning the Government's flagship KiwiBuild policy could "crowd out" the private sector.
But Finance Minister Grant Robertson disagrees, saying Orr's forecast was "certainly challengeable".
This morning, the Reserve Bank published a discussion document. It says KiwiBuild could contribute 100,000 affordable houses over 10 years, but it's unlikely that will be achieved without crowding out a "significant amount of other residential construction activity".
And Auckland house sale prices have hit their lowest levels in three years.
But Finance Minister Grant Robertson disagrees, saying Orr's forecast was "certainly challengeable".
This morning, the Reserve Bank published a discussion document. It says KiwiBuild could contribute 100,000 affordable houses over 10 years, but it's unlikely that will be achieved without crowding out a "significant amount of other residential construction activity".
And Auckland house sale prices have hit their lowest levels in three years.
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